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INVESTOR UPDATE

Geophysics Delineates Structures that host Copper-Gold Mineralisation at Alford West Copper-Gold Project

Figure 1: 3D model showing the deeply weathered “trough” structure, host to oxide copper-gold mineralisation in the Alford Copper Belt.

Read the full ASX release
The directors of Thor Energy Plc (“Thor” or the “Company”) (AIM, ASX: THR, OTCQB: THORF) are pleased to announce the results from the Ambient Noise Tomography (“ANT”) survey at the Alford West Project, South Australia, by 30% owned EnviroCopper Limited (“ECL”).

HIGHLIGHTS
  • ANT survey using Exosphere by Fleet® successfully delineates the weathered “trough” like structures that host oxide copper-gold mineralisation within the Alford Copper Belt (Figure 1 – 4).
  • The subsurface ANT results will be integrated with historical drilling data to generate a new drilling program, targeting higher-grade oxide copper-gold mineralisation.
  • Future drilling will be focused on areas with low-density contrast which have been shown to host oxidised copper mineralisation, amenable to potential In-Situ Copper Recovery (“ISCR”).
  • The geophysical survey was partially funded (up to A$30,000) by the South Australian Government Accelerated Discovery Grant (“ADI”) awarded to ECL.

Photo Plate 1: Deploying sensors (Geodes) at Alford West, note the minimum surface disturbance.

This low-impact ANT survey was extremely successful in subsurface mapping, in particular delineating the weathered “trough” structures which host the oxide copper-gold mineralisation within the Alford Copper Belt; with further processing and modelling, it will potentially highlight the higher-grade mineralised zones within these structures.

The use of the ExoSphere by Fleet ® has enabled ECL to be more efficient in exploration, minimising the environmental impact and improving drilling targeting.

We look forward to updating the market as the subsurface maps are further refined with drill targets.

- Managing Director Nicole Galloway Warland

About EnviroCopper Limited (“ECL”)
Thor holds a 30% interest in ECL, which is a public, unlisted company, with In-Situ Recovery Copper projects at Kapunda and Alford West, South Australia. ECL manage the Alford West Project in a Joint Venture with the tenement holder Andromeda to earn up to a 75% interest in the mineral rights over metals recoverable via ISCR. (ASX/AIM announcement: 11 November 2020).

Read the full ASX release

LEARN MORE ABOUT ISR (In-Situ Recovery)

The Ambient Noise Tomography (ANT) survey at the Alford West copper-gold Project was conducted using ExoSphere by Fleet Space. These lightweight battery-powered sensors measure naturally occurring seismic vibrations to detect variations in density of the underlying rock units. Subsequent drilling can then be focused on areas with low density contrast which have been shown to host oxidised copper mineralisation amenable to potential In-Situ Copper Recovery.

ABOUT THE

ALFORD COPPER PROJECTS

Thor Mining has an interest in several projects in the copper belt near Alford on the Yorke Peninsula in South Australia and further to the east at Kapunda.
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